Bill
Bill > HR1429
summary
Introduced
03/08/2017
03/08/2017
In Committee
03/08/2017
03/08/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
LEADS Act of 2017 Letter of Estimated Annual Debt for Students Act of 2017 This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to require an institution of higher education that participates in federal student aid programs to provide an annual estimate of borrowing costs to each enrolled student who receives an education loan. The cost estimate must include the student's cumulative education loan balance, projected monthly payment amount, and interest rate on each loan.
AI Summary
This bill, the LEADS Act of 2017 or the Letter of Estimated Annual Debt for Students Act of 2017, amends the Higher Education Act of 1965 to require institutions of higher education that participate in federal student aid programs to provide an annual estimate of borrowing costs to each enrolled student who receives an education loan. The estimate must include the student's cumulative education loan balance, projected monthly payment amount, and interest rate on each loan. The bill also requires the Secretary of Education to annually provide institutions with information on the expected loan disbursements and projected cumulative balances and monthly payments for federal direct loans (other than consolidation loans and PLUS loans made on behalf of students) for the next academic year.
Committee Categories
Education
Sponsors (10)
Luke Messer (R)*,
Susan Brooks (R),
Larry Bucshon (R),
André Carson (D),
Rodney Davis (R),
Brian Fitzpatrick (R),
Martha McSally (R),
Todd Rokita (R),
Elise Stefanik (R),
Peter Visclosky (D),
Last Action
Referred to the House Committee on Education and the Workforce. (on 03/08/2017)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/115th-congress/house-bill/1429/all-info |
| BillText | https://www.congress.gov/115/bills/hr1429/BILLS-115hr1429ih.pdf |
| Bill | https://www.congress.gov/115/bills/hr1429/BILLS-115hr1429ih.pdf.pdf |
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